NZ: Q3 GDP likely expanded by 0.5% q/q - ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ are expecting that NZ’s Q3 GDP likely expanded by 0.5% q/q, which would see annual growth moderate 0.1%pts to 2.7%.

Key Quotes

“Underpinning this is an element of payback from Q2’s strong print, where a number of temporary factors provided a boost.”

“That said, relatively stable underlying momentum in the economy should put a floor under Q3’s deceleration.”

“All up, we suspect growth will continue to muddle along at an annual pace of 2½-3%, which we see as slightly below trend. In that environment, it will be a struggle for core inflation to lift sustainably to the RBNZ’s 2% target, suggesting the OCR will remain on hold for some time yet. And if downside risks to the outlook materialise, the next move could well be a cut.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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